SVB agrees to sell venture capital arm for $340 million
Dan Primack, author of Axios Pro RataIllustration: Gabriella Turrisi/AxiosThe fire sale of Silicon Valley Bank is nearly complete, a scant 14 months after the lender's spectacular collapse.Why it matters: This concerns the fate of SVB's venture capital business, called SVB Capital, which still manages around $9.8 billion in assets for limited partners.SVB Capital wasn't included in the sale of SVB's lending and wealth management units to North Carolina-based bank First Citizens, nor last fall's...
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